contribution
Is it possible to contribute more than the annual allowable amount to replace investment advisory fees subtracted from the account each quarter/year?
Is it possible to contribute more than the annual allowable amount to replace investment advisory fees subtracted from the account each quarter/year?
Permalink Submitted by Alan - IRA critic on Mon, 2019-11-25 23:52
No. But if this is a traditional IRA, it is still wise to have these fees paid directly from the IRA because this is pre tax money and is never taxed if deducted directly from the IRA. Misc deductions are also suspended until 2026, to direct deduction is the only way to have the fees paid pre tax. Not so good for a Roth IRA however, where it is better to pay the Roth advisory fees with outside money to preserve the post tax Roth assets.